The long-awaited $3 price mark may be closer than it appears as XRP is showing indications of a major market reversal. The digital asset has now decisively broken above both the 50-day (orange) and 100-day (blue) exponential moving averages, historically strong reversal signals, after a protracted period of consolidation and several unsuccessful breakout attempts.
At about $2.08, XRP tested the support close to the 200-day EMA, and it has since rebounded noticeably. By serving as a solid support base, this level attracted bullish momentum that propelled the asset above crucial resistance levels. Healthy consolidation just above the EMAs is evident in the current price action around $2.27-$2.28; this suggests accumulation rather than distribution.
More significantly, the bullish story is strengthened by the breakout from the descending trendline. It suggests that the recent bearish structure that had kept XRP stuck in a downward trend since early April may be coming to an end. A consistent rise with rising volume indicates buyer confidence, which is a prerequisite for long-lasting rallies.
Additionally supporting technical momentum is the Relative Strength Index (RSI), which is presently hovering around the neutral zone (51.59). This indicates that bulls have plenty of runway to push XRP higher before it reaches overbought conditions. The road to $2.50 and eventually $3 becomes accessible if XRP can hold this level and validate support above $2.28 in the upcoming daily candles.
The asset will next be put to the test by psychological resistance at $3, but given the recent structural change, this is now a real possibility rather than merely conjecture. Observe carefully, investors. Although it is never a good idea to chase green candles, if the bullish structure holds, pullbacks to the $2.25-$2.28 region might provide good entries. Although XRP’s current technical posture suggests the beginning of a medium- to long-term uptrend, which could ultimately bring the $3 target within reach, risk management is still crucial.
Read the full article here
